Mr. Ken d'Entremont reports

MEDEXUS CONCLUDES METOJECT LITIGATION, PATENT NO LONGER IN EFFECT IN CANADA

Following a trial in January, 2023, Canada's federal court has issued a judgment declining to uphold the Canadian patent for Metoject. Medexus Pharmaceuticals Inc. and medac, licensor of Medexus's commercialization rights to Metoject, have elected not to appeal the trial court decision. Medexus and medac initiated the litigation in August, 2020, in response to the at-risk launch of a generic version of Metoject.

"While this outcome is disappointing, Metoject has weathered the sustained generic competition well since 2020," commented Richard Labelle, Medexus's general manager -- Canadian operations. "We previously adjusted our commercialization strategy and so this court decision will result in no meaningful changes to our business."

"We expect this outcome to have a limited impact on the company and the product," added Ken d'Entremont, Medexus's chief executive officer. "We look forward to putting this litigation behind us and continuing to work on expanding and enhancing our business overall."

The public judgment and reasons dated March 26, 2024, containing the full text of the trial court decision is available on the "Decisions of the Federal Court" section of the federal court's website.

About Medexus Pharmaceuticals Inc.

Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. Medexus's current focus is on the therapeutic areas of oncology, hematology, rheumatology, auto-immune diseases, allergy and dermatology.

We seek Safe Harbor.